What is YAM V3 ?
YAM V3 is an experimental protocol mashing up yield farming, community governance, and elastic supply. YAM V3, the upgraded version of YAM V1, is basically an elastic supply cryptocurrency, which expands and contracts supply in response to market conditions, initially targeting 1 yUSD (yyCRV) per YAM. YAM supply rebases every 12 hours at 8am UTC and 8pm UTC. This stability mechanism is supplemented by one key addition to existing elastic supply models such as Ampleforth: a portion of each supply expansion is used to buy yUSD and add it to the YAM treasury, which is controlled via YAM community governance. Latest public audit report is provided by PeckShield.